Japanese Restaurant

Japanese Restaurant

Available

$299,000.00

Listing Number :

 3699

Status :

Expired

Price :

$299000

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Area

1600

Description

Teriyaki-Sushi Restaurant in SF $192K Net
Buyer needs
Only 10% ($29,000) down SBA Loan
Profitable & Established business for over 23-years at this location and 11- years with the current owners. Great online reviews for local and tourist customers long-term10-year lease, low rent $3100/m.Business currently operates M-S, closed on Sundays. New owner can get additional sales if open on Sundays. Seller claims; Gross annual sales $468,000 with $132,000 Net. After$84,000 payroll already deducted from Net. It is currently run by the owners/parents and two sons helping out along with their other full-time jobs, so it’s time for parents to retire. A great opportunity for new owner to enjoy established cash flow. Seller willing to carry a 30% loan for qualified buyer also it is  eligible for SBA Financing with 10% down. Books available for review.
Business Information Financial Information
Ownership Type:  Corporation
Year Established: 1996
Year Purchased: 2009
Business Type: Japanese Restaurant
License(s) Required: Business, Health, ABC
Hours of Operation: 11am-9.30pm/6x days a week
Business Relocatable: No
Business Is A Franchise: No
Home Based: No
Broker To Broker CoOp:  No
Office Listing Number: 3699
Date Available: 5/15/2019
Reason For Sale: Retiring
Annual Total Revenue: 468000
Annual Net Income: 192000
Inventory: Included in asking price
Monthly Payroll: 7000
Lease Information
Base Rent: 3100/m
Lease Expires: 2024
Lease Option: 5
NNN:
 
Financing Information
Down Payment: 29000
Owner Will Carry: 49000
Other Finance Terms:

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